Clinipace Worldwide, one of the Triangle’s growing life science services company cluster, is growing quickly and as a result is ranked No. 36 on the new Forbes’ “America’s Most Promising Companies” list.

The magazine chose 50 firms – the “Nifty 50” – that are privately held, have demonstrated high growth companies and appear to have bright futures.

and the clinical research organization which focuses on digital services, is there thanks to $37 million in revenues last year.

A series of acquisitions combined with organic growth enabled Clinipace to meet Forbes’ selection criteria. The company has grown to 467 employees.

“It is an honor to be named to FORBES’ ranking of America’s Most Promising Companies,” said Jeff Williams, chief executive officer and a founder of Clinipace, said. “We owe this achievement to the dedication and expertise of our employees who work tirelessly to deliver a new service delivery model with which we are changing and improving the way clinical trials are run through a technology-enabled platform.”

The company, which is based in Morrisville, launched in 2003.

Clinipace has made four acquisitions over the past three years. It also has added offices in California, the U.K. and India.

Forbes spelled out its criteria for selections:

“To produce our Most Promising list, we started with the premise that one metric—like revenue or valuation—doesn’t say much about a company’s overall health. Instead we strove for a holistic gauge, trying to pin down companies’ trajectories by looking at a slew of variables. Over the course of six months we reviewed thousands of applications from businesses across the country. The final assessment is based on growth (both in sales and hiring), quality of management team and investors, margins, market size and key partnerships.”